Volkswagen Group’s SEAT will spend EUR3.3bn (US$3.69bn) on equipment, facilities and R&D between 2015 and 2019. President Jürgen Stackmann said: “the EUR3.3bn is earmarked for promoting new vehicle development R&D projects at the technical centre as well as equipment and facilities in the Martorell factory”.
This spend, which is the largest in the history of SEAT for new models, will go towards launching four new vehicles in the next two years. “These models are part of an ambitious plan to continue to strengthen the brand and boost sales, which have been growing consistently since 2013. The spending on innovation ensures competitiveness and employment, and secures the future”. The first model to reach dealerships during the first half of next year will be a compact SUV, the brand’s first incursion into this segment.
The EUR3.3bn is part of the amount announced by the VW Group last May.